Financing & Incentives

Tax Incentives

Ohio Job Creation Tax CreditThe JCTC program allows a company creating net new jobs in the State of Ohio to take a refundable credit against its commercial activities, state income, or insurance premiums tax obligations. The credit is calculated as a percentage of income tax withheld by the company above historical levels for the company at the project site. If the company’s tax obligation for the respective period is less than the tax credit value, payment is made from the State’s treasury to the company. The JCTC program is performance-based. There is no cap on the availability of tax credits under the company’s project. This credit is contingent on submittal of an application, meeting all program requirements, and approval of tax credits to the company by the Authority.

Grants

Roadwork Development (629) AccountRoadwork Development (629) funds can be committed by the State of Ohio for an amount to be determined based on total eligible roadwork costs. The grant will be provided on a reimbursement basis to the local jurisdiction or public entity conducting the roadwork improvements. Funds are contingent upon availability and final approval by the State Controlling Board.

JobsOhio Workforce Training GrantWorkforce Training Grant funds can be committed by JobsOhio for training occurring as it relates to the project. Receipt of Workforce Training Grant funds is further contingent upon meeting all program requirements, availability of funds, execution of an agreement, and reimbursement request. Click here to learn more.

JobsOhio Economic Development GrantJobsOhio is prepared to evaluate offering an Economic Development Grant on a reimbursement basis to the Company for its costs associated with fixed asset investments. This offer is contingent upon eligible costs and availability of funds. Click here to learn more.

JobsOhio Revitalization ProgramThe JobsOhio Revitalization Program focuses on helping rejuvenate sites in preparation for end-users that support job creation opportunities for Ohioans. The program, which includes both loans and grants, is available to public and private entities seeking to clean up and redevelop sites across Ohio. Click here to learn more.

Financing

JobsOhio Growth Fund LoanJobsOhio is prepared to evaluate offering a JobsOhio Growth Fund Loan for eligible fixed-asset costs associated with the project, subject to the following conditions: Loan financing is contingent upon meeting all program guidelines, establishment of appropriate credit enhancement, completion of due diligence, and satisfactory review of the company’s financial statements. The financing is “take out” financing and will only be disbursed after the borrower secures the balance of the project funding, and the project has been completed. Click here to learn more.

Allen County Revolving Loan Fund:The Allen County Revolving Loan Fund (RLF) is a flexible source of financing for businesses expanding or locating to Allen County. Loan amounts are subject to the availability of funds.

D’Arcy Loan Fund:The D’Arcy Loan Fund is a local funding source for businesses expanding or locating to Allen County. The fund provides low interest loans to assist with Allen County economic development projects. Loan amounts are subject to the availability of funds. Click here to read more.

Local Property Tax Exemptions & Community Reinvestment Areas:Local communities in Ohio are authorized to collect property taxes on real property (land and buildings). Through the Ohio Enterprise Zone and Community Reinvestment Area programs, local communities can elect to abate a portion of property taxes owed by a company. Typical abatement under the Ohio Enterprise Zone are 50 to 75 percent of taxes exempted for 10 to 15 years, on real property.

Community Reinvestment Areas:Lima City is designated a Community Reinvestment Area and can offer a reduced abatement up to 100% on real property taxes.

BetterBuildings Northwest Ohio Capital Program:This program aids business and building owners by financing energy efficiency technology. Building owners can save on energy costs while increasing the value of their investment by participating in BetterBuildings Northwest Ohio, a program of the Allen County and Toledo-Lucas County Port authorities. Owners of virtually every type of building are eligible for low-cost financing to pay for high-efficiency improvements to their facilities and building systems. BetterBuildings offers attractive commercial financing at competitive interest rates with terms up to 15 years for projects that ficus on conserving energy and generating savings through equipment retrofits to existing facilities. Click here to learn more.

166 Direct Loan Program:This 166 Direct Loan Program gives eligible businesses loans for land and building acquisition, construction, expansion or renovation, and equipment purchases. The program provides low-interest loans up to 40 percent of the cost not to exceed $1.5 million. Click here to learn more.